Macy’s, Inc. (NYSE:M) Receives $13.20 Average Target Price from Analysts

Shares of Macy’s, Inc. (NYSE:MGet Free Report) have earned a consensus rating of “Hold” from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $13.20.

A number of research firms recently commented on M. Cowen reiterated a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. UBS Group lowered their target price on Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 7th. Telsey Advisory Group cut their target price on shares of Macy’s from $15.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, May 29th. Wall Street Zen upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Barclays started coverage on shares of Macy’s in a research report on Monday, April 28th. They set a “cautious” rating and a $12.00 price objective for the company.

Get Our Latest Stock Report on Macy’s

Insider Buying and Selling

In related news, EVP Tracy M. Preston sold 2,780 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the sale, the executive vice president now owns 4,723 shares of the company’s stock, valued at $59,887.64. This trade represents a 37.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Antony Spring sold 20,868 shares of Macy’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $264,606.24. Following the completion of the transaction, the chief executive officer now owns 321,244 shares in the company, valued at $4,073,373.92. This trade represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,751 shares of company stock valued at $537,790 over the last three months. 1.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Macy’s

Several institutional investors have recently bought and sold shares of M. Trifecta Capital Advisors LLC purchased a new stake in shares of Macy’s during the fourth quarter worth about $34,000. Jones Financial Companies Lllp boosted its stake in Macy’s by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after purchasing an additional 969 shares in the last quarter. Summit Securities Group LLC boosted its stake in Macy’s by 106.0% in the 1st quarter. Summit Securities Group LLC now owns 2,200 shares of the company’s stock worth $28,000 after purchasing an additional 38,800 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Macy’s during the 4th quarter worth approximately $38,000. Finally, Headlands Technologies LLC acquired a new position in Macy’s during the 1st quarter valued at approximately $29,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Stock Down 0.3%

NYSE M opened at $11.46 on Monday. Macy’s has a 52 week low of $9.76 and a 52 week high of $20.47. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $3.19 billion, a P/E ratio of 19.42 and a beta of 1.77. The stock’s 50-day moving average price is $11.59 and its 200-day moving average price is $13.96.

Macy’s (NYSE:MGet Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.38 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. On average, equities research analysts predict that Macy’s will post 2.39 earnings per share for the current year.

Macy’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date of this dividend is Friday, June 13th. Macy’s’s payout ratio is 37.06%.

About Macy’s

(Get Free Report

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.

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Analyst Recommendations for Macy's (NYSE:M)

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